VINCI and Nice Côte d’Azur Chamber of Commerce sign PPP contract for the future car rental firm complex at Nice Côte d’Azur airport

29 November 2007 - New contracts - France

On 29 November, Dominique Estève, chairman of the Nice Côte d’Azur Chamber of Commerce and Industry (CCI), and Park Azur, a VINCI Concessions subsidiary, signed the contract for the business complex to be built for car rental firms at Nice Côte d’Azur airport. The signing ceremony was attended by Xavier Huillard, director and CEO of VINCI.

The contract calls for the financing, construction and operation of a three-storey building with a total surface area of 60,000 sq. metres. The building is designed to meet the needs of the anticipated growth of car rental business at Nice airport, which is already the market leader in France, on a par with Paris Charles de Gaulle airport. The project represents a total investment of approximately €45 million for almost 2,500 parking spaces.

The 32-year contract is in the form of a French lease giving temporary authorisation to use public land and granting real property rights. VINCI’s remuneration will come from the rental fees paid by the companies operating in the business complex.

Work will start at the beginning of 2008 and will take 28 months to complete. It will be carried out by a consortium comprising two local VINCI Construction France subsidiaries (Dumez Côte d'Azur, Campenon Bernard Méditerranée) and Miraglia. The architects of the complex are Georges Dikansky and Frédéric Génin.

Success on this contract is attributable to the VINCI Group’s diversity of skills, which work together on concession project engineering and operation (VINCI Park and VINCI Airports), together with the strong presence of VINCI Construction France in the region. The new contract confirms the relevance of VINCI’s integrated concession-construction business model, as well as the spirit of partnership underpinning its drive to expand in the French airport activity sector.

 

About VINCI
VINCI is a global player in concessions, energy and construction, employing 280,000 people in more than 120 countries. We design, finance, build and operate infrastructure and facilities that help improve daily life and mobility for all. Because we believe in all-round performance, we are committed to operating in an environmentally, socially responsible and ethical manner. And because our projects are in the public interest, we consider that reaching out to all our stakeholders and engaging in dialogue with them is essential in the conduct of our business activities. Based on that approach, VINCI’s ambition is to create long-term value for its customers, shareholders, employees, partners and society in general.